By Richard (Rick) Mills, Ahead of the HerdAs a general rule, the most successful man in life is the man who has the best informationOur groundwater is being used up at record rates and claims to ownership are becoming increasingly contentious.
Hong Kong based billionaire Mr. Li Ka-shing, who controls a group of companies, has agreed on buying a UK based Gas Company named Wales and West Utilities. The agreement has been settled for 645 million pounds or 1 billion dollars. This latest acquisition by the tycoon will greatly boost his gas portfolio in Britain.
Yahoo Inc. and Facebook Inc. have finally agreed to settle their heated up patent lawsuits and tie up for a licensing and internet advertising partnership according to reports laid out on Friday.
Richard Schulze, the co- founder of Best Buy Co. (BBY), has offered to buy the company and this way make it private. It would be the fourth-largest U.S. retail takeover in the history. Richard Schulze remains the electronics chain's main investor. He has sent a letter to the board with a purchase proposal of $24 to $26 a share, thus he valued the company at $9.5 billion including net debt.
The Australian sharemarket lost a little ground for only the second time this week, following some disappointing economic news in China. The All Ordinaries Index (XAO) eased by 0.6 pct or 27.3 pts to 4302.8. Almost all sectors fell with the financial sector holding back the market most significantly.
The local share market is trading lower at lunchtime in the East, following a mixed finish on Wall Street and weakness in financial stocks. The All Ordinaries Index (XAO) is down 14.1pts or 0.3pct to 4316 at midday in the East.
Square, the mobile payments start-up, would create an alliance with the Starbucks Coffee Company. The partnership will enable mobile payments at the company's 7000 U.S. stores. Starbucks will invest $25 million as a part of Square's Series D financing round. Moreover Howard Schultz, the Starbucks' CEO, will join Square's board of directors.
The tug-of-war over the control for Tiger Brewer which is a group of 24 brewery units in Asia and a profitable soft drinks company should finally come to a head as Fraser and Neave have been brought in to consider a takeover bid by Heineken.
Coca-Cola Co. has announced a reorganization of its operating structure around main units. The remodeling is necessary to better address the changing demands of Coca-Cola's marketplace.
The eurozone's second largest economy, France, is headed for another recession by the third quarter of the year, said the nation's central bank on Wednesday, with the newly-elected Hollande government expected to be forced into deep spending cuts in order to balance the country's books.
Dubai is an international and regional trading hub in the UAE and despite financial woes over the last few years, economic growth looks set to be strong for this glittering desert jewel in 2012.
By Greg PeelThe Dow closed down 10 points or 0.1% while the S&P was flat at 1402 and the Nasdaq rose 0.
The Australian share market was on track to post a fourth consecutive session of gains today, however those gains evaporated late in trade after Chinese industrial output and retail trade figures for July came in lower than expected. By close the All Ordinaries Index (XAO) was lower by 2.8pts or 0.1pct to 4330.1, after reaching an intra-day high of 4350.
The small Australian town of Wandoan, located near Chinchilla, is seeking $100 million from mining giant Xstrata as a condition for the town to open its doors to the firm's coal mining venture.
It was a bad day for Qantas workers on Wednesday as Chief Executive Alan Joyce announced the loss of 2,800 jobs and Fair Work Australia (FWA) ruled in favour of the air carrier in its long-standing labour row with the Transport Workers Union (TWU).
This message is one of a series. It began when Mario Draghi, former Goldman man and now head of the European Central Bank, promised to do "whatever it takes" to save euroland.
Mining giant Rio Tinto (ASX: RIO) announced on Wednesday that it will push through with its $15-billion expansion plans despite a 22 per cent dip in its half-year profit and weak commodity prices.
By Greg PeelThe Dow closed up 7 points while the S&P gained one point to 1402 and the Nasdaq slipped 0.
Greg PeelA check of FNArena's Broker Call archive shows that on the 1st of September, 2010, BA-Merrill Lynch upgraded Rio Tinto ((RIO)) to Buy.
Local stocks closed higher for the third consecutive session today, boosted by hopes the European Central Bank will soon engage in government bond buying, delivering stimulus to the global economy. European shares rose to fresh four month highs overnight, while US shares also rose in thin trade. By close on the Australian share market, the broader All Ordinaries Index (XAO) had risen by 21.5pts or 0.5pct to 4332.9.
While Australian mining firms and the political Opposition have been crapping about the mining tax, Barrick Gold Corporation backed the Gillard government's mineral resources rent tax (MRRT) and carbon tax.
Overnight European and the US markets continued to mount solid gains as expectations increase over new central bank intervention in the markets. Concerns over global oil supply pushed oil prices higher and US banking stocks lifted. Shares in UK banking group Standard Chartered fell over 23% after New York banking regulators accused Standard of helping Iran avoid sanctions by concealing US$250 billion worth of transactions over the last 10 years. Standard management said the allegations were inco...
FNArena has added another video to its Investors Education section on the website. This week ATW's Jerry Simmons starts his discourse talking about the Friday just passed and how it was a pivotal day that could turn into a key event day.
The Australian dollar closed Tuesday at 105.76 US cents from 106.60 on Monday. It is a four-month high which analysts attributed to the decision of the Reserve Bank of Australia's (RBA) to retain the overnight cash rate at 3.5 per cent.
By Greg PeelThe Dow closed up 51 points or 0.4% while the S&P gained 0.5% to 1401 and the Nasdaq added 0.
Local stocks hit a fresh three month high today as a further stabilisation of the European debt crisis supported resource and financial stocks. Trading volumes remained thin however, on the back of yesterday's Bank Holiday in NSW and the ACT, and with many traders attending the annual Diggers & Dealers mining conference in Western Australia. The All Ordinaries Index (XAO) rose by 18.5pts or 0.4pct to finish the day's trade at 4311.4.
With the opening of another Melbourne store set for late 2013, the retailing giant Costco's commitment to using local Australian produce will see a demand for additional new suppliers.
On Monday the Australian share market kick started the trading week on a positive note with the All Ordinaries Index (XAO) is up 49.7points, finishing at a new 12 week high.
Note from the Editor: Due to an error, a story was yesterday published on the FNArena website, titled "Lamp Going Out For Lynas?".
With most of the second-quarter central bank meetings and bank results reporting concluded, we are looking at a relatively slow week ahead.
